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Securing Your Financial Future with Asset Care Strategies

In an ever-changing world, preparing for the future is paramount. Our comprehensive long-term care strategies at Centric Financial Group go beyond insurance – they're a roadmap for securing your financial well-being. Now, let's explore two additional strategies that enhance our offerings: Asset-Based Long-Term Care using Life Insurance as a Foundation and Preparing for Long-Term Care Expenses with Annuities.

Asset-Based Long-Term Care Using Life Insurance

Discover an approach to long-term care with Asset-Based Long-Term Care using Life Insurance. This product allows you to leverage existing assets to protect yourself and your loved ones from the financial and emotional strain that can arise during long-term care needs.

Key Features:

Premium Options: Utilize existing assets, like CDs, savings, or IRAs, as a one-time premium payment or opt for guaranteed annual premiums that will never increase.

Asset Protection: Enjoy the security of a life insurance policy that grows at a minimum, tax-deferred interest rate.

Tax-Free Benefits: Use your life insurance for qualifying long-term care expenses and pay no income tax on the benefits should the need arise.

Leave a Legacy: If the long-term care benefit goes unused, or only a portion is utilized, your named beneficiaries will receive the death benefit income tax-free.

Preparing for Long-Term Care Expenses with Annuities

For those who have diligently saved and invested for retirement, our annuity option is a strategic way to designate provisions for end-of-life care or long-term care. By transferring existing savings or assets to an annuity, you can combine long-term asset growth with essential long-term care benefits.

Key Features:

Single Premium Option: Use existing assets, such as CDs, savings, or another annuity, for a one-time premium payment and avoid ongoing, non-guaranteed premium payments.

Added Value for Care: Watch your accumulated value grow at a guaranteed minimum interest rate, and when funds are withdrawn for long-term care expenses, they get credited at an even higher interest rate.

Tax-Free Benefits: Enjoy the advantage of paying no income tax when using your annuity for qualifying long-term care expenses, regardless of deferred gains (subject to monthly maximums, and premiums funded after-tax).

Frequently Asked Questions

How does Asset-Based Long-Term Care using Life Insurance work?

Our product allows you to use existing assets as a premium payment, providing asset protection, tax-free benefits, and the opportunity to leave a legacy for your beneficiaries. Consult our advisors or representatives for a personalized strategy.

What makes Annuities a suitable option for long-term care costs?

Annuities offer a single premium option, added value for care, and tax-free benefits for qualifying long-term care expenses. Learn how you can strategically transfer existing savings to ensure financial security during later stages of life.

Can I combine traditional long-term care insurance with these products?

Yes, our advisors and representatives can help you explore options for combining traditional long-term care insurance with Asset-Based Long-Term Care using Life Insurance or Annuities, creating a comprehensive strategy tailored to your needs.

Ready to enhance your long-term care strategy with our innovative strategies? Contact Centric for a personalized consultation and secure your financial future today.